28 Jun 2013
EUR/USD eyes 1.3080 after German sales
Fxstreet.com (Edinburgh) - The shared currency is now pushing the EUR/USD to fresh intraday highs in the vicinity of 1.3080 after German retail sales surprised investors in May.
EUR/USD heading towards 1.3100
Retail sales in Germany expanded 0.8% on a monthly basis, surpassing estimates at 0.2%. Over the last twelve months sales grew 0.4%, missing expectations at 0.6%. Next on tap in the euro area will be the inflation figures in Italy and Germany. Across the Atlantic, the Chicago PMI and the Consumer Sentiment index sponsored by Reuters/Michigan will be in the limelight.
EUR/USD critical levels
At the moment the pair is up 0.23% at 1.3070 with the next resistance levels located at 1.3073 (MA200d) followed by 1.3087 (high Jun.26) and finally 1.3100 (psychological level). On the downside, a break below 1.2991 (Cloud top) would expose 1.2985 (low Jun.26) ahead of 1.2956 (low Jun.3).
EUR/USD heading towards 1.3100
Retail sales in Germany expanded 0.8% on a monthly basis, surpassing estimates at 0.2%. Over the last twelve months sales grew 0.4%, missing expectations at 0.6%. Next on tap in the euro area will be the inflation figures in Italy and Germany. Across the Atlantic, the Chicago PMI and the Consumer Sentiment index sponsored by Reuters/Michigan will be in the limelight.
EUR/USD critical levels
At the moment the pair is up 0.23% at 1.3070 with the next resistance levels located at 1.3073 (MA200d) followed by 1.3087 (high Jun.26) and finally 1.3100 (psychological level). On the downside, a break below 1.2991 (Cloud top) would expose 1.2985 (low Jun.26) ahead of 1.2956 (low Jun.3).